Soon after his speech began, Wall Street futures went into a nosedive.
Donald Trump has vowed to bomb Iran "back to the Stone Age" in a national address in which he claimed victory while palming off responsibility for the Strait of Hormuz to other countries.
In a 20-minute primetime speech, the visibly tired US president made no new announcements and repeated many of his old talking points.
Trump said US operations in Iran are going to get more intense in coming weeks.
READ MORE: Major airport to be renamed for Donald Trump
But he also claimed his strategic objectives were "near completion".
"We are going to finish the job, we're going to finish it very fast," he said.
It's not a new claim from Trump. Throughout the war he has repeatedly claimed it would soon be over.
He threatened the Iranian regime with more violence if they didn't make a deal.
"We are going to hit them extremely hard over the next two to three weeks," he said.
"We are going to hit them back to the Stone Age where they belong."
Trump also expressed his indifference to Iran blocking the Strait of Hormuz.
READ MORE: Trump on shaky ground after Democrats win Mar-a-Lago seat
"We don't have to be there. We don't need their oil. We're here to help our allies," he said.
He claimed Iran would "soon have missiles that would reach the American homeland".
"They had some weapons that nobody believed they would have," he said.
"Their race for a nuclear bomb, a nuclear weapon that nobody's ever seen before. They were right at the doorstep."
He made some odd deviations, including emphasising that Barack Obama's deal with Iran involved a lot of "green, green cash".
Trump began his speech by congratulating the team at NASA over the successful takeoff of the Artemis rocket.
"They are on the way and God bless them," he said.
He then started talking about the military operation in Venezuela in January.
The president "as always, lied" said top Democratic Senator Chris Van Hollen.
"Over two weeks ago he said 'we won'. If so, then why are we still there? What's next?" he said on Bluesky.
"All we can count on is more lies from Trump. This delusional man is a danger to our country and the world."
Trump's speech has not been well received on Wall Street.
Dow Jones and Nasdaq futures plummeted during his speech, well below the market close.
Meanwhile crude oil and natural gas prices have skyrocketed.
After dropping to below $US100 a barrel yesterday, it is now over $US104 and climbing.
READ MORE: Donald Trump storms out of Supreme Court as he faces loss
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